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Business - Page 73

Heirs Energies Agrees $750m Afreximbank Financing to Drive Long-Term Growth

Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has executed a USD 750 million financing with the African Export–Import Bank (Afreximbank). The transaction was concluded at a signing ceremony in Abuja on Saturday 20th December 2025, attended by Mr. Tony

December 21, 2025

Meyer Earns N2bn From Paint Sale, Grows Profit By 104.85%

Business·Top Stories

Meyer Spent N678m On Paint Production To Generate N1bn Revenue In Q1

The revenue of Meyer Paints increased by 73.75 percent to N1.09 billion in the first quarter (Q1) of 2025, up from N629.74 million reported in the same period in 2024. Meyer announced the turnover in its consolidated and separate financial statements for

May 27, 2025

Business·Top Stories

Champion Brew’s Majority Shareholder Sells Off 350m Shares, Profits From Bullish Run

Raysun Nigeria Limited, the majority shareholder of Champion Brew, has sold 350 million shares in the brewer to reduce its stake by 3.91 percent in the first quarter (Q1) of 2025. Prime Business Africa gathered that Raysun Nigeria Limited held 7.17 billion

May 27, 2025

Business·News

Dangote Expands Fertiliser Exports, Targets $7m Daily

Aliko Dangote, president of Dangote Industries Limited (DIL), has revealed plans to expand Nigeria’s export operations by increasing his company’s export of fertiliser, cement and polypropylene among other products. He said the company plans to substantially increase the export of fertiliser from

May 27, 2025

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 1st July 2025

Business·Currency·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 27th May 2025

What is the dollar-to-naira exchange rate on the black market, like the Aboki Fx? The exchange rate for the US dollar (USD) to Nigerian naira (NGN) in the parallel market, also known as black market, as of 27th May 2025, is N1,615

May 27, 2025

Business·Oil & Gas

Port Harcourt Refinery Shutdown Sparks Fuel Price Concerns

The National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), Mr Billy Gillis-Harry, has expressed concerns about the potential negative impact of the shutdown of the Port Harcourt refinery on fuel prices. Gillis-Harry said that while it may

May 26, 2025

Business·Top Stories

Aradel, Linkage Assurance, Other Gainers Add N539.97bn To Stock Market Cap

The Nigerian stock market capitalisation increased to N69.29 trillion on Monday, May 26, from N68.75 trillion on Friday, May 23. This indicates the Nigerian bourse’s valuation increased by N539.97 billion or 0.78 per cent at the close of trading. Also, the all-share

May 26, 2025

Business·Top Stories

Champion Brew Records First Q1 Profit In Three Years – But Has A Cost Problem

Champion Brew announced solid financial returns in the first quarter (Q1) of 2025, however, the company has a finance cost problem that is affecting the brewer’s bottom line. According to its condensed Interim financial statements for the three-month period ended March 31,

May 26, 2025

Business·Top Stories

MTN Nigeria Shareholders Lose N104.97bn After Board Member Sells Off Shares

MTN Nigeria shareholders lost N104.97 billion combined within five days after Eyitope Kola-Oyeneyin, a board member, sold her stake in the telecommunications company on Monday, May 19. Kola-Oyeneyin sold the shares five months after she was appointed as a member of the

May 26, 2025

Business·Currency·Markets

Naira Vs Dollar: What To Expect This Week (26th-29th, May 2025)

The Nigerian naira recorded mixed sentiments of gains and losses against the Dollar at the foreign exchange market last week. At the official market window, the Central Bank of Nigeria (CBN) data on Foreign Exchange showed that the naira opened the week

May 26, 2025

Business

Three Nigerian States With Highest Petrol Price In April

Nigerians have continued to endure an upsurge in the cost of Premium Motor Spirit (PMS), also known as petrol, since May 2023, when President Bola Tinubu’s administration ended fuel subsidies and began deregulation of the market. Deregulation led to price volatility as

May 25, 2025

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Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

The Federal Government of Nigeria has issued its debut bond

Dollar Trades Flat In Black Market, Appreciates In Official Window

The dollar traded at N1,487.01/$1 in the parallel market on

Venezuela Condemns Trump’s Threat, Pledges to Defend Sovereignty

The government of Venezuela has condemned what it described as

Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

The Bank of Japan (BOJ) is set to raise its

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Business - Page 73

Heirs Energies Agrees $750m Afreximbank Financing to Drive Long-Term Growth

Meyer Spent N678m On Paint Production To Generate N1bn Revenue In Q1

Champion Brew’s Majority Shareholder Sells Off 350m Shares, Profits From Bullish Run

Dangote Expands Fertiliser Exports, Targets $7m Daily

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 27th May 2025

Port Harcourt Refinery Shutdown Sparks Fuel Price Concerns

Aradel, Linkage Assurance, Other Gainers Add N539.97bn To Stock Market Cap

Champion Brew Records First Q1 Profit In Three Years – But Has A Cost Problem

MTN Nigeria Shareholders Lose N104.97bn After Board Member Sells Off Shares

Naira Vs Dollar: What To Expect This Week (26th-29th, May 2025)

Three Nigerian States With Highest Petrol Price In April

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